Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1887-06-24

begun than judgment could be rendered
against dead man who has died pendente
life.
Under the currency act the United States
has first and permanent lien upon all the
assets of National bank to the amount
expended in paying the circulating notes
of such association, and therefore the
rights of an ordinary attaching creditor
will be poisoned to this paramount privi-
lege.
Section so of the National banking act
requires the Comptroller Of the Currency to
apply the moneys paid over to him by the
receiver of an insolvent bank ION all such
claim Ss may have been proved to his sat
isfaction, or adjudicated in court of COM
petent jurisdiction. 1t has been held
that under this section claims which have
been proved to the satisfaction of the
Comptroller are equivalent in all respects
to claims which have been put in judg-
ment. Accordingly depositor who has
demanded payment of his deposit, and has
been refused, is entitled to claim not only
the principal of his deposit but interest
thereon from the time of the demand. If
the depositOr makes no demand for pay
ment, interest will be calculated and al
lowed from the date when the Comptroller
declares the bank in default and appoints
receiver.
LIABILITY OF STOCKHOLDERS.
The decision of the Comptroller as to a
deficiency of assets is final, and can not be
questioned by a shareholder in suit insti-
tuted against him to recover the amount
assessed to be paid by him. Neither can
the shareholder plead nd tiel corporation,
nor seek to 60 behind the Comptroller's
certificate for the purpose Of showing any
description of precedent irregularity in the
proceedings. A stockholder who has
shared in the transactions Of de tactO
national bank, and has received dividends
on his shares, beingsued for his assessment
is estopped to deny the legality of the in
corporation.
Where the Comptroller of the Currency
assesses the shareholders in an in
solvent national bank for the pur-
pose of paying the debts of the bank, the
sums assessed become payable Immediate
ly upon the making of the order, and in
ISICSl may bC ILoN ihpC
all cases of delay in payment.
Where the Comptroller Of the Currency
has declared a national bank to be lnsol-
vent and has assessed the amount payable
to the shareholders in respect of their
sha res, the liability of each shareholder to
pay the amount due upon his shares is
several, and collection of the amount may
be made by a suit at law against him in
dividually.
Where person holds shares in a national
bank simply as a collateral security for a
loan, but nevertheless appears upon the
books of the association rs the absolute and
legal owner, his liability to assessment, in
the event of the bank becoming insolvent,
is the same as that of any ordinary share
holder.
The pledge having under the contract a
right to sell the shares may do so, though
he believes the bank to be insolvent, and
his real motive in selling is to escape
liability. The saleis not in fraud of credi-
tors of the bank by reason of the existence
of any such belief and motive in the mind
of the vendor. But where the vendor was
an officer of the bank, cogniZant of its
condition, and the transfer was apparently
made without consideration and to a per-
son of no financial responsibility, a con-
trary rule is laid down and the transfer
held to be in fraud OF creditors and void.
ADDITIONAL ATTACHMENTS.
Another attachment was issued yester-
day by the Union National Bank, of
Cleveland, against the Fidelity Bank. The
amount was $50, 900. Execution Deputy
Jake Germany, from the County Sheriff7s
Office, served the execution at high noon
against all the real estate transferred
to f. /. Harper by Joseph Wiltshire, and
by Harper TO the Fidelity Bank. The
attachment includes the patrol house and
grounds of premises on Walnut Hills, cor
ner of Lincoln avenue and Mulberry street.
Most of the property embraces vacant lots
situated in the city and suburbs. There
are three lots on Reading road that were
attached. The houses, 327 and 800 Broad
way, now unOccupied, were also included
in the attachment.
At o'clock in the afternoon writ Of
replevin was executed from the Sheriff 9
office at the instance of Joseph Joseph 4
Bros. the amount claimed being S25, 900.
The execution was issued on the rolling
mill at Riverside.
STATEMENT OF THE COMPTROLLER OF THE
TREASURY.
Hon. W. T. Trenholm, Comptroller OF
the Treasury, who arrived this morning,
saws that there is not such an Omniscence
in the Governments supervision as can
always avert catastrophe like that OF the
Fidelity Bank fund. He suggests that 1t
is hardly tair to expect one man to know
more about the affairs of three thousand
banks in the country, than is known some
times by the officers OF the banks themselves.
The examination OF the bank in January
showed everything to be all right, 50 when
notice of the connection of the bank with
the Chicago grain dealers was first given
in the press, it was apparent that what
ever division of the funds was involved,
was beyond the power of an exami-
ton to prevent. But there was
no tangible evidence of wrong
doing to Justify the interference
at that time. Then the only proper course
was to direct the local examiner to remain
in Cincinnati without doing anything TO
ipiure the standing of the bank and be
ready to act at any moment Mr.. Tren-
holm was particular in his statement that
the agent had no power to appoint a receiver
and in this case there had been no such ap-
pointment. Neither could any act OF
iiouidation be done until the receiver was
appointed by the comptroller Of the cur
rency, and had given bond.
The most sensational feature Of the day
was the surrender late this afternoon OF
E. L. Harper and B. E. Hopkins by
their sureties. In order TO effect this
Messrs. Harper and Hopkins had to
be brought before the U. S. Commissioner.
Mr.. Harper was found in the bank, but
Mr.. Hopkins was taken from the midst OF
his family. No bondsmen have been found,
up to this hour, 10 p. m, and the Com
missioner has agreed to await until mid
night, when, if he does not come, the Vice
President and cashier will 20 to jail.
No Order to Arrest the 0hleers OF the
Bank.
WASHINGTON, June 23.-At the office os
the Comptroller of Currencyjt is said that
no instructions have been sent 70 Cincln-
natl for the arrest Of the officers Of the Fl